TromboneAl
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- Jun 30, 2006
- Messages
- 12,880
Didn't we have a contest concerning where the market would end up in 2008? I can't seem to find it.
S&P 1200 Dow 11,200 Dec 31, 2009. Dow 16,000+ Dec 31,2013.
this is an error of 9.2 percentage points, but 34.2/25=1.368, so the error is actually nearly 40%, not 9.2%(snip)
Freebird predicted -25% actual -34.2 error 9.2%(snip)
this is an error of 9.2 percentage points, but 34.2/25=1.368, so the error is actually nearly 40%, not 9.2%
......................Travellover did the best.
FOA predicted 8000 (when you pick a range you can't use the mid point because then you could claim if the Dow finished anywhere between 6500 and 8500 points you were within 500 points). Actual 7552 error 5.6%
When looking at a range of course you use the center point, because the range reflects the confidence. I was confident to within 500 points on either side. 6500 or 8500 would be off by 1000; 15.4% or 11.8% respectively.
The only time a range means the biggest number is when you're negotiating with contractors and car salesmen, in which case the high number is really the bottom of what you might expect to pay.
I hope all this hair-splitting at least makes you some money.
Ha